Press Release from Tennesseans for Fair Taxation, Sept. 22, 2010:
WHAT: “It’s Time to Act” : Tennesseans for Fair Taxation Annual Meeting 2010
WHEN: Saturday, Sept. 25, 9:30 a.m. to 4 p.m.
WHERE: Second Presbyterian Church, 3511 Belmont Blvd., Nashville, TN
Tennesseans will soon elect a new governor who will be faced with one of the most dire budget shortfalls in state history. Federal stimulus funds and the use of non-recurring funds in the 2010-11 state budget helped Gov. Bredesen avoid a $1.5 billion budget shortfall, but he has warned state employees and departments to expect further layoffs and program cuts. Meanwhile, unemployment remains at historic high levels, tax revenues are not meeting projections, and Tennessee families are suffering from a lack of investment in much-needed social services and public structures.
Tennesseans from across the state will gather in Nashville Sept. 25 to discuss the context of the state’s current economic crisis and share solutions that would give most Tennesseans a tax cut while still raising $1 billion in additional revenue. The event, “It’s Time to Act”, is hosted by Tennesseans for Fair Taxation, a statewide non-profit seeking to create a more fair and progressive tax structure that ensures adequate revenues for the benefit of all Tennesseans.
“Campaign claims that an income tax would harm job creation and employment in Tennessee are simply not supported by research,” says TFT Executive Director Elizabeth Wright. “Modernizing Tennessee’s tax structure by eliminating the sales tax on food, reducing the general sales tax, and implementing a personal income tax would actually stimulate the economy, create new jobs, help small businesses, and with TFT’s proposals, give two-thirds of Tennesseans a tax break.”
The day-long event is open to the public and will feature a workshop by nationwide economic experts United for a Fair Economy called “Bankers, Brokers, Bubbles and Bailouts: The Causes and Consequences of the Financial Crisis.” Attendees will also engage in a state budget forecast with Mike Murphy, a member of the Tennessee Budget Working Group. TFT will also host a plenary session to share its tax modernization proposals that would raise $1 billion in additional revenue for the state while giving two-thirds of Tennesseans a tax cut.